Notable news items and price action from yesterday, including our fundamental view on select names.
- CBOU was reiterated “Buy” at Jeffries.
- CMG is facing some heat in the media this morning as fired workers allege the burrito chain was soft on immigration, with many managers allegedly having been told explicitly that papers were falsified.
- CMG has unveiled additional details for its new restaurant concept open this summer. ShopHouse Southeast Asian Kitchen is inspired by the traditional shophouses found throughout Thailand, Malaysia, and Vietnam.
- BWLD has launched a redesigned menu that encourages guests to mix and match food selections with the chain’s signature sauces. The menu also features 10 new items.
- Casual dining companies are struggling in the battle to identify underage drinkers. The recent scandal surrounding an Applebee’s in Michigan serving a toddler alcohol does not appear to have been an isolated incident. An Applebee’s in California made the same mistake (different toddler) in 2007 and, according to media reports out today, a Florida youngster was served sangria during a visit to an Olive Garden restaurant.
- COSI gained 4% on strong volume yesterday.
- CBRL and BWLD gained on strong volume yesterday. Oil prices declining sharply was a strong positive for CBRL.